FTSE 100 LIVE: Euro stands at 18 month high as stocks bounce back

FTSE 100 LIVE: Euro stands at 18 month high as stocks bounce back

Economic recovery hopes have driven bets on rebounding world demand and a falling US dollar this morning. Stock markets in Asia ground higher, except in Australia. A surge in coronavirus infections in the country put pressure on bank and travel shares and the benchmark index fell 1%.

This comes after European Union leaders struck a deal for a region-wide rescue plan, a huge step toward recovery from the COVID-19 crisis. The common currency surged to $1.1543. This is the best since January 2019, as investors bet an economic rebound would benefit currencies besides the dollar as global exports pick up and trade improves.

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Published at Wed, 22 Jul 2020 05:31:49 +0000